Tsakloglou: In a few years TEKA will be the largest institutional investor in the country


The Deputy Minister of Labor and Social Affairs, Panos Tsakloglouparticipated in the proceedings of the conference of the “Association of Institutional Investors” on: “The Importance of Professional Management of Insurance Pillars”.

As Mr. Tsakloglou pointed out in his speech, “collective-institutional investment schemes are for savers what workers’ unions are for workers: Power in the union. The most important and most common purpose of citizens’ savings is insurance / pension savings. This savings is also the most important component of national savings. “National savings, in turn, act as a powerful growth lever that supports the deepening of the domestic capital market, domestic investment, productivity growth and growth.”

The Deputy Minister of Labor and Social Affairs made special reference to key interventions of the government, which, as he said, “directly or indirectly create a favorable framework for the development of pension savings and capital insurance in our country” and mentioned the reduction of non-wage costs. , the introduction of capitalization elements in the auxiliary insurance with the creation of TEKA and the design of a more flexible and coherent institutional framework that will facilitate the development of the Professional Funds.

Referring to the operation of the new Auxiliary Capital Insurance Fund (TEKA), Mr. Tsakloglou stated that “the professional management of the institutional funds of social security is non-negotiable. We trust the savings of the insured to the professional fund managers, just as we trust our health to the Health professionals. We want TEKA to be the model. To set the bar high for all pension savings management bodies, regardless of the pillar “.

“TEKA, the new Auxiliary Capital Insurance Fund, is small today. In a few years, however, it will be the largest institutional investor in the country. That is why TEKA was designed with a high sense of responsibility, in order to give value to the savings of the insured and the best possible result based on the principles of transparency, good governance, professional management “, noted Mr. Tsakloglou.

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